Multiple listings reveal Model Y going for up to $20,000 over original MSRP as flippers move on latest Tesla
With approximately 1,000 Tesla Model Ys recently arriving in Australia, an inordinate number are already up for sale.
And some examples are being advertised with markups that exceed $20,000 over list.
An almost standard Rear Wheel Drive advertised in NSW with less than 1,000km on the clock is listed at $95,990, versus Tesla’s list price of $72,300 plus on-road costs.
Its drive-away price new would be $75,089.
A white Rear-Wheel Drive Model Y with optional 20-inch rims is being advertised with 1,300km on the odometer at $94,500, some $17,000 over Tesla’s indicated price of $77,989 for the same car in the same specification.
The lowest-priced Model Y is being offered for $74,900 in Tasmania, with 1,600km on the clock, with a similar car in NSW priced at $74,990 with only 110km on the odo.
There is a five- to eight-month wait for delivery on the new car, according to the Tesla site.
No examples of the all-wheel-drive Performance variant are listed.
Profit-taking on new cars is nothing new, of course, and in an era where new car supply is crunched, it’s even more prevalent.
A cursory search for the new Ford Ranger Wildtrak – sold out for the foreseeable future according to Ford – reveals a low-kilometre used example on sale for $92,980, against a listed drive-away price of $78,410 for the same spec vehicle.
Recently, a small number of GM dealers in the US have been lambasted for inflating the pricing on Corvettes, with a US$90,000 ($160,000) markup on a showroom example being dropped after an outcry.
Meanwhile, Toyota Australia sales and marketing director Sean Hanley is keen to see the practice of ‘flipping’ outlawed under Australian consumer law.
The brand experienced similar upticks in used car values on the new LandCruiser 300 series, while profit-taking also affected the surprise hit of 2021, the GR Yaris.
It is also expecting the same situation to occur with the GR Corolla (below), thanks to supply restraints.
The brand’s Australian boss says he wants to find a way to stop buyers ‘flipping’ its cars, calling on consumer authorities to introduce regulations to stop these practices.
“We’ve spent decades building trust around our brand and it’s quite disturbing to think that we have a few [customers] who are short-cycling our cars to make money,” Hanley told Australian media.
“We need to protect as best we can our customers from those types of behaviours. We want this situation changed. We want customers to pay a fair and reasonable price based on the manufacturer’s retail price.
“Used cars are a different matter. But for a new car, we don’t want customers paying over the odds.”
Average delivery waiting times for many popular models like the Toyota RAV4 Hybrid remain at about 12 months, while order books for both the GR Yaris and LandCruiser 70 Series remain closed while demand outstrips supply for the foreseeable future.
[author] [author_image timthumb=’on’]https://editorial.csnstatic.com/editors/tim-robson-author.jpg[/author_image] [author_info]Tim Robson[/author_info] [/author]
